XRP price started a downside correction below the $1.150 zone. The price is now showing bearish signs and might decline further below $1.080.
XRP price started a downside correction after it failed to stay above the $1.1550 zone.
The price is now trading below $1.1350 and the 100-hourly Simple Moving Average.
There is a bearish trend line forming with resistance at $1.120 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could continue to move down if it stays below $1.1350.
XRP Price Turns Red
XRP price struggled to stay above $1.1550 and started a fresh decline, like Bitcoin and Ethereum. The price dipped below the $1.150 and $1.1420 levels.
The price even traded below the 50% Fib retracement level of the upward move from the $1.050 swing low to the $1.1862 high. However, the bulls are currently protecting the $1.10 support zone. Besides, there is a bearish trend line forming with resistance at $1.120 on the hourly chart of the XRP/USD pair.
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